According to sources who had direct knowledge in the transaction, SoftBank Corp founder Masayoshi Son had acquired Tiffany Building, a landmark property in Tokyo. The acquisition, reportedly worth USD326 million, was dubbed as one of the most expensive property deals in Japan in recent years.
Forbes newsmagazine's second most richest man in Japan won the bid out of the Japanese corporations and sovereign wealth funds who had interest in the decade-old glass structure. The property located at the high-end Ginza shopping district was sold by Asia Pacific Land, according to the same sources. Designed by architect Kengo Kuma, the property is home to the flagship store of reknowned jeweller Tiffany & Co.
The sources refused to be named as they were not given authority to speak publicly about the matter. Softbank declined to provide a comment when asked by Reuters about the news. The news agency could not also reach Asia Pacific Land for comment.
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